Bank owned homes in the Traverse Bay Area

Bank Owned Homes

Although we see a limited number of bank owned homes in this area, there are some available. Almost all bank owned homes become listed and banks rarely deal directly with anyone other than a few brokerages.

Bank Owned Homes Statistics

Total Listings: 41
Average Price: $86,008
Highest Price: $289,900
Lowest Price: $22,900

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Bank Owned Homes

All Listings Under $100,000 $100,000 - $200,000
$200,000 - $300,000
New Listings First
15 Properties Found.
Photo of Listing #1846820

11565 Se Piper Circle

$74,900

Kalkaska, Michigan
4 Bed, 2 Bath, 1682 Sqft, 10 Acres
Single Family

Photo of Listing #1846758

4710 Ritt Road

$140,000

Bellaire, Michigan
3 Bed, 2 Bath, 1975 Sqft, 0.41 Acres
Single Family

Photo of Listing #1846582

1995 N Us-31 N 104

$124,900

Traverse City, Michigan
1 Bed, 1 Bath, 802 Sqft
Single Family

7958 Ne Beechnut Street

$39,900

Kalkaska, Michigan
3 Bed, 1 Bath, 1120 Sqft, 0.92 Acres
Single Family

548 Crystal Avenue

$289,900

Frankfort, Michigan
5 Bed, 7½ Bath, 3000 Sqft, 0.84 Acres
Single Family

3674 Grace Road

$124,900

Frankfort, Michigan
3 Bed, 2 Bath, 1712 Sqft, 5 Acres
Single Family

1981 N Reynolds Road

$121,000

Interlochen, Michigan
4 Bed, 2 Bath, 1917 Sqft, 5 Acres
Single Family

Photo of Listing #1844972

4586 Ski View Circle

$164,900

Cedar, Michigan
3 Bed, 2 Bath, 1008 Sqft, 0.6 Acres
Single Family

8555 Vans Lane

$132,900

Kingsley, Michigan
3 Bed, 2½ Bath, 2140 Sqft, 10.18 Acres
Single Family

Photo of Listing #1843148

18906 Bronson Lake Road

$101,700

Interlochen, Michigan
3 Bed, 2 Bath, 1692 Sqft, 11.65 Acres
Single Family

6100 E Hackett Drive

$200,000

Cedar, Michigan
2 Bed, 2½ Bath, 1920 Sqft, 5 Acres
Single Family

Photo of Listing #1843552

10506 Deadstream Road

$129,900

Honor, Michigan
5 Bed, 2 Bath, 1808 Sqft, 2 Acres
Single Family

4484 Deer Track Trail

$175,000

Thompsonville, Michigan
3 Bed, 1 Bath, 1190 Sqft, 1 Acre
Single Family

Photo of Listing #1843065

8255 Tower

$53,950

Kalkaska, Michigan
3 Bed, 2½ Bath, 1792 Sqft, 5 Acres
Single Family

4689 Saint Johns Road

$43,200

East Jordan, Michigan
3 Bed, 2 Bath, 1778 Sqft, 3.9 Acres
Single Family

More information on Traverse Bay Area bank owned homes

Bank owned and repo homes in the Traverse Bay and Traverse City area can be a great deal, however, keep in mind that not all bank owned homes are deals.  Often they have been poorly maintained and if the bank gained possession of the home during the cold months, we have often seen frozen pipes.  This is not always the case and it is definitely worth considering a bank owned home.  Whether you are looking for a waterfront bank owned home, a bank owned Traverse City condo or just want to use our advanced bank owned search, TBAR Search has all the listed Traverse City bank owned homes.

 The best way to keep up with the market and to be one of the first to know about new or revised bank owned listings is to get set up with automatic email notifications.  Just let us know what you are looking for and we can get you set up and remember, you can opt out or change your search criteria anytime.

Also, here are the answers to a few bank owned home questions.

Do banks typically take much less than list price for their Traverse City area bank owned homes?

No, most often banks will have three basic appraisals  (often referred to as BPO's  - Broker Price Opinions) and will set a list price based on a those appraisals, along with other items.  Banks will then typically accept within 5% of list price, often depending on how long it has been at that price.  The banks will most often reject offers less than that, or counter back at full price.  If the asset (home) does not get an accepted offer within 45-60 days, the bank will usually reduce the price and go through the same scenario.  With that said, we have seen banks accept much less also, so it may be worth a try if it has been on the market for a while.

The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Copyright © Northern Great Lakes REALTORS® MLS. All Rights Reserved.